Preface
Credit risk has become one of the most intensely studied topics in quantitative finance in the last decade. A large number of books on the topic have been published in recent years, while on the excellent home-page that is maintained by Greg Gupton there are more than 1200 downloadable working papers related to credit risk. The increased interest in modeling and management of credit risk in academia seems only to have started in the mid-1990s. However, due to the various issues involved, including the ability to effectively apply quantitative modeling tools and techniques and the dramatic rise of credit derivatives, it has become one of the major fields research in finance literature.
As a consequence of an increasingly complex and competitive ...
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